Rising demand for data harvesting and data encryption is expected to drive the demand for global sensitive data discovery market in the forecast period.
According to TechSci Research report, “Global Sensitive Data Discovery Market By Component (Solutions & Services), By Deployment (On-premise and Cloud), By Organization Size (SME and Large Enterprise), By Application (Security and Risk Management, Compliance Management, Asset Management, Other Applications (Network Management and Access Management)), By End-User Vertical (BFSI, Government, Healthcare and Life Sciences, Retail, Manufacturing, Telecommunications and IT, Other Verticals (Education, and Travel and Hospitality), By Company, By Region, Forecast & Opportunities, 2026”, global sensitive data discovery market is expected to witness significant growth for the next five years owing to dependance on manual systems for data discovery and increase in privacy and safety concerns. To drive useful insights from structured and unstructured data formats to develop competitive edge is boosting the sensitive data discovery market growth. Efficient data security plans require discovery of sensitive data for masking process to unauthorized access. Sensitive data discovery aids in developing new business opportunities and solutions for better governance practices.
However, lack of skilled workforce may create hindrance in the global sensitive data discovery market growth.
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Global sensitive data discovery market is segmented into component, deployment, organization size, application, end-user vertical, region, and company. Based on components, market is further bifurcate into solutions and services. Services segment is expected to hold major market share for the next five years, 2022-2026. Increasing demand from end-user industries for integration and deployment of the sensitive data discovery tools is fueling the growth of the market. Based on end-user vertical, market is majorly divided into BFSI, government, healthcare and life sciences, retail, manufacturing, telecommunications and IT, other verticals comprising of education, and travel and hospitality. Healthcare and life sciences is expected to dominate the market for the predicted period owing to enormous data generation due to pandemic and another ongoing crisis around the globe. Need for efficient data management tools and services and sensitive data discovery is surging on a rapid pace. Sensitive data discovery aids in searching multiple cases of a single patient relating to diagnostics, pharmacy management, tracking of inventory, among others.
Microsoft Corporation, IBM Corporation, Oracle Corporation, Google LLC, Micro Focus International Plc, SolarWinds Inc., Digital Guardian, Inc., Higher Ground Labs LLC, Egnyte Inc, Dathena Science Pte Ltd are the leading players operating in global sensitive data discovery market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several sensitive data discovery manufacturers are coming up with their technologically advanced offerings.
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“Rise in adoption for internet of things, sensors and geospatial devices to enhance connectivity and get real-time analytics is generating huge amounts of data in different formats. To unify data in a single format and in understandable nature is influencing the global sensitive data discovery market. Integration of sensitive data discovery solutions along with business process to generate business insights is fueling the growth of the market till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Sensitive Data Discovery Market By Component (Solutions & Services), By Deployment (On-premise and Cloud), By Organization Size (SME and Large Enterprise), By Application (Security and Risk Management, Compliance Management, Asset Management, Other Applications (Network Management and Access Management)), By End-User Vertical (BFSI, Government, Healthcare and Life Sciences, Retail, Manufacturing, Telecommunications and IT, Other Verticals (Education, and Travel and Hospitality), By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global sensitive data discovery market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global sensitive data discovery market.
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